Company achieved consistent result in the first quarter of 2023, with Adjusted EBITDA increasing 13% from the same period in 2022 to R$1.942 billion.

Net Revenue came to R$4.831 billion in 1Q23, 9% higher than in 1Q22.

Company continues to advance in its expansion cycle, with 92% of construction work on Puma II Project’s MP28 in Paraná concluded and the new corrugator at the Horizonte Unit in Ceará going operational in March 2023. 

São Paulo, May 3, 2023 -- Klabin, Brazil’s largest producer and exporter of paper for packaging and sustainable solutions for paper packaging, registered Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of R$1.942 billion in the first quarter of 2023, an increase of 13% from the same period last year.

During the first quarter, the Company’s sales volume, excluding wood, totaled 881,000 tons. The flexibility of Klabin’s integrated business model enabled the seamless conversion of paper into packaging, minimizing the Company’s exposure to the Kraftliner export market. As such, Net Revenue came to R$4.831 billion in 1Q23, growing 9% from 1Q22, reflecting the price adjustments in recent months.

Return on Invested Capital (ROIC) stood at 19.4% in the period, underlining Klabin's ability to combine growth and value generation for shareholders. The strong results once again underscore Klabin's successful integrated, diversified and flexible business model and its constant pursuit of operational efficiency.

Investments

In the first quarter of 2023, Klabin invested R$1.175 billion in its operations and expansion projects. Of this amount, R$260 million went to forestry operations, R$221 million to meet the working capital needs of mills and R$173 million mainly to projects already approved, such as construction of the terminal at the Port of Paranaguá and the Horizonte and Figueira projects in Ceará and Piracicaba (São Paulo), respectively. Investments in the Puma II Project were R$521 million, bringing total investments to date in the project to R$11.6 billion. Construction work on Paper Machine 28 (MP28) is on schedule, with 92% concluded per the measurement made on April 23, 2023. MP28 is slated for startup in June this year.

Recognition in sustainability

Klabin’s actions in the Environmental, Social and Corporate Governance pillars resulted in its inclusion - for the third straight year - in The Sustainability Yearbook, the global sustainability index compiled by S&P Global. Klabin ranks among the world’s top-rated companies, figuring in the Top 1% S&P Global ESG Score, which includes companies with a minimum ESG score of 60 and are among the top 1% performers in each sector.

Financial Highlights

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